Gilead Sciences (NASDAQ:GILD) stock is on the move Thursday following U.S. Food and Drug Administration (FDA) approval for Gilead’s supplemental new drug application (sNDA) for the company’s Veklury Covid-19 treatment. That covers its use as a treatment for patients with Covid-19 who are suffering from “mild, moderate and severe hepatic impairment.”
Gilead notes that this approval makes Veklury the “only approved antiviral COVID-19 treatment that can be used across all stages of liver disease.” The approval requires no dose adjustments, which will be noted on updated bottles of the drug. Veklury was first approved for the treatment of Covid-19 back in October 2020.
Frank Duff, Senior Vice President and Virology Therapeutic Area Head at Gilead Sciences, said the following about the approval:
“With the recent increase in levels of COVID-19 circulating in the U.S., the risk to vulnerable individuals persists, including for those with hepatic impairment […] This approval demonstrates Gilead’s ongoing commitment to COVID-19, including our focus on vulnerable populations.”
GILD Stock Movement on Thursday
Despite today’s FDA approval announcement, shares of GILD stock aren’t seeing much in the way of movement. As of this writing, only about 1 million shares have changed hands. For the record, that’s still a long ways off from GILD’s daily average trading volume of around 5.9 million units.
Investors will also note that GILD stock is down slightly as of Thursday morning. The stock did rally earlier this morning but couldn’t maintain that momentum. Also, shares of GILD are down 9.9% since the start of the year.
Investors seeking out even more of the most recent stock market news will want to keep reading!
We have all of the biggest stock market stories that traders are going to want to read about on Thursday! A few examples of those include what’s happening with AMC Entertainment (NYSE:AMC) stock today, why investors are excited about Nvidia (NASDAQ:NVDA) stock and what has artificial intelligence (AI) stocks rising today. All of that news is ready to go at the links below!
More Stock Market News for Thursday
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
